Berry Global completes take-over of RPC Group

By Becky Bargh | Published: 5-Jul-2019

The US$6.5bn deal was funded by the group's financial proceeds and two incremental term loans

Global packaging manufacturer Berry Global has completed its acquisition of RPC Group.

The US$6.5bn deal includes a $4.3bn cash paid for the equity interest in RPC Group and $2.2bn of net debt and estimated transaction related costs.

Today, Berry Group’s combined global reach spans 290 locations across North and South America, Europe, Asia, Africa and Australia, with more than 48,000 employees.

Berry Group’s Chairman and CEO, Tom Salmon, said: “We are very excited to move forward together as a global plastic and recycled packaging industry leader, serving thousands of customers with our high quality, innovative and protective along with the industry’s most diversified and expansive manufacturing footprint.

“The acquisition of RPC will give us the opportunity to leverage our combined know-how in innovative material science, product development and manufacturing technologies.”

He added: “We believe this acquisition will further enhance the long-term outlook for our business and will provide a unique value creation opportunity for our shareholders.”

According to Berry, the acquisition was financed with the proceeds of the group’s sales and a $4.25bn, and €1bn loan.

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